Court Orders Quashing Money-laundering Case Against Tareen, Son In Lahore

A local court has ordered quashing a money-laundering case, registered by the Federal Investigation Agency (FIA), against politician and industrialist Jehangir Khan Tareen and his son, Ali Tareen

LAHORE, (UrduPoint / Pakistan Point News - 27th Jan, 2023 ) :A local court has ordered quashing a money-laundering case, registered by the Federal Investigation Agency (FIA), against politician and industrialist Jehangir Khan Tareen and his son, Ali Tareen.

Judicial Magistrate Ghulam Murtaza Virk passed the orders in the light of a report, submitted by the investigation officer in the matter, according to the verdict, released here on Friday.

Earlier, the FIA investigation officer had submitted a report before the court, saying that the charges of money laundering did not prove during the investigation. He submitted that no illegal method of money transfer surfaced in the investigations and all transactions were done in accordance with the rules of Security and Exchange Commission of Pakistan.

The accused also provided documentary evidence of all the transactions, he added.

The FIA had registered a case against the father-son duo, and others under charges of money laundering, misappropriation of shareholders' money and fraud in the sugar scam.

The case was registered under sections 406 (criminal breach of trust), 420 (cheating of public shareholders) and 109 of the Pakistan Penal Code (PPC), read with sections 3/4 of the Anti-Money Laundering Act.